TEHRAN, Oct 30: Iranian Oil Minister Bijan Zanganeh said on Wednesday that he had no hope of exporting gas to Pakistan because financing was not availa- ble to finish building a pipeline.

“Given the current conditions, we do not have hope for exporting gas to Pakistan,” Mr Zanganeh was quoted as saying by state news agency Irna.

Earlier this month, Petroleum Minister Shahid Khaqan Abbasi asked Iran for $2 billion to build its side of a pipeline that has drawn threats of US sanctions.

Under those conditions, “it…seems improbable to export gas” to Pakistan, the Iranian oil minister added.

The Iranian side of the $7.5 billion project is almost complete.

However, Pakistan has run into repeated problems paying for the 780km section to be built on its side of the border.

Iran currently produces around 600 million cubic metres of gas per day, almost all of which is consumed domestically.

Its only foreign client is Turkey, which buys about 30 million cubic metres of gas per day.

Spooked by fears of US sanctions and lack of money supply, Pakistan has so far dragged its feet on completing the project on its side.—AFP